Exercise 1-14 Loren Satina is the sole owner of Clear View Park, a public camping ground near the Lake Mead National Recreation Area. Loren has compiled the following financial information as of December 31, 2017.Revenues during 2017—camping fees$172,564Fair value of equipment$172,564Revenues during 2017—general store80,119Notes payable73,956Accounts payable13,559Expenses during 2017184,890Cash on hand28,350Accounts receivable21,570Original cost of equipment130,039(a)Determine Loren Satina’s net income from Clear View Park for 2017. Net income$(b)Prepare a balance sheet for Clear View Park as of December 31, 2017. (List Assets in order of liquidity.) CLEAR VIEW PARKBalance Sheet December 31, 2017For the Month Ended December 31, 2017For the Year Ended December 31, 2017AssetsExercise 1-15 Presented below is financial information related to the 2017 operations of Sea Legs Cruise Company.Maintenance and repairs expense$ 99,000Utilities expense11,000Salaries and wages expense132,000Advertising expense28,500Ticket revenue401,000Prepare the 2017 income statement for Sea Legs Cruise Company. SEA LEGS CRUISE COMPANYIncome StatementExercise 1-16 Presented below is information related to the sole proprietorship of Alice Henning, attorney.Legal service revenue—2017$337,000Total expenses—2017207,000Assets, January 1, 201793,000Liabilities, January 1, 201754,000Assets, December 31, 2017170,000Liabilities, December 31, 2017105,000Drawings—2017?Prepare the 2017 owner’s equity statement for Alice Henning’s legal practice. (List items that increase owner's equity first.)ALICE HENNING, ATTORNEYOwner’s Equity Statement

Business Plan Outline:Your business plan will not include any detailed financial data section.Please, do not copy a business plan from an existing company. The purpose of this business plan is to emphasize essential concepts within MGMT 390.Your Business Plan must be at least 12 pages and consist of the following:Title page – that includes your name, and course numberMinimum of ten pagesReference pageAs Chief Executive Officer (CEO), you are going to take the lead in preparing the plan to kick start the restaurant operation. Sally has developed the minimum format guidelines to assemble the required information to build the Business Plan.The Business Plan must be updated, completed, and submitted in Module 8, where you will have the opportunity to include any final details needed for each section of the plan.Research: How to Write a Business Plan (SBA) (Links to an external site.).For a review of Legal Forms of Business, view the MGMT 390 Entity Comparison (PDF).Citations and references must be in the current Writing Style Guide format.Save your assignment using a naming convention that includes your first and last name and the activity number (8.3). Do not add punctuation or special characters. Be sure to submit your assignment before the due date!Access Mandatory Components to continue.https://learn.sba.gov/learning-center-plan/learnin...IntroductionPresent and describe the items you will use to address the concerns of your business plan.Set the stage for the framework that will become your business plan.Type of business (product or service)Describe the business, the product or services, location (Florida), and any other facts you want to report.Legal Form of BusinessPick the appropriate form of business except for a sole proprietorship. (The company form may change depending on future events).Consider the costs associated with the chosen business form.Explain why you have selected this form of business from a tax, company, and personal liability perspective.Indicate the advantages and disadvantages of this legal form.Specify types of officers and duties that will be involved in the company's management.Using the business's location, review all state and federal requirements for starting a business.Using any new information or previously provided information, write a brief outline mapping the required steps required to qualify.Using the fictitious name that you researched for availability, attach the information collected from your search.Legal Setting of BusinessExpand upon the information you stated under the legal form of business. Describe any government laws or requirements that pertain to your business.Describe any zoning requirements for the business.Include any restrictions such as zoning, safety, environmental, easements, or other requirements.Location RequirementsDescribe the property or location of your business.Discuss the viability of the business in the chosen location from a population, transportation, and community income perspective. Have you considered transportation, ease of customer access, and utilities at this location?Considering the debt acquired to purchase the property and discuss the viability of the profitability.Business License Research and CostsDescribe the business license and permit requirements for the location where you will be doing business (factor in the type of business and the impact it will have on the costs of governmental regulation).Check the city and county websites for business license requirements and the costs for the business license.Insurance RequirementsDescribe the types of business insurance required for operating this type of business.Is bonding required?If you have employees, describe the mandatory types of insurance to consider.Proprietary RightsDescribe any Intellectual Property that your business may own or create.Consider trademarks, copyrights, design specifications, patents, and logos.Discuss the steps required to protect all intellectual property associated with the business.Employment Law and RequirementsAttach a copy of the search for federal Labor laws obtained from your research of federal Employment Regulations. Describe your decision to hire or not hire employees vs. independent contractors.Review IRS.gov for guidance on mandatory taxes.Purchase Orders and ContractsWhat foreseeable types of pricing arrangements are you underneath? Contract pricing arrangement examples are firm fixed price, fixed price with economic price adjustment (EPA), etc.Are the other Regulations that are required based on the mix and government contractor status cost-effective? Government contracts, direct hires, particular needs?For other types of contracts, are you considering labor, time and materials, or multiyear- type?Support your contract types with justification. Why are you planning on using these purchase orders and contracts?Torts and Crimes ProtectionDescribe the types of torts and crimes relating to your business that you will have to protect from damages and disputes.Property and RequirementsDescribe any company property (equipment, computer systems, or building requirements) that may be necessary for startup and planned for business operations.Do you plan on leasing, renting, or buying any business property? Please support your decision.UCC ConsiderationsYou will learn in this course, that the Uniform Commercial Code (UCC) governs many types of business requirements such as contracts for lease or sale of goods, transactions, fraud, the passing of title, risk of loss, and other contract requirements. Describe how you plan to comply with the UCC for your business.Other ConsiderationsDescribe any other requirements you have learned in this course that you will have to consider in starting, operating, and eventually closing your business.ConclusionYour Plan Conclusion should summarize the main concepts addressed in this paper. Restate the blueprint of your businesses' success. Restate important ideas and recap your findings.